S1 E11: BP and the Road to Net-Zero
Organising The Future with Andrew Parry
The Energy Trilema's Transition Plan
The strategy is very fundamentally aligned to the energy trilema. We are still aiming to be net zero by 2050 or sooner. Within two weeks, we basically had European gas prices, 187% higher and Brent prices, 41%. So a significant energy crisis. On the back of that, let's not forget that we exited Russia within 96 hours of the war started. And that accounted for 25% of our production and 30% of our reserves. It was a very fundamental portfolio change to us.
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